Limited company: Difference between revisions
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imported>Brianlenoach@hotmail.co.uk (Change 'most' to 'almost all'.) |
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In the case of a company ''limited by shares'' the members' liability is restricted to the amount, if any, unpaid on the shares they hold. | In the case of a company ''limited by shares'' the members' liability is restricted to the amount, if any, unpaid on the shares they hold. | ||
Almost all commercial companies are of this type. | |||
In a company ''limited by guarantee'' the liability of the members is restricted to a predefined amount which the members guarantee to contribute (on the event of any winding up of the company). | In a company ''limited by guarantee'' the liability of the members is restricted to a predefined amount which the members guarantee to contribute (on the event of any winding up of the company). | ||
Revision as of 22:50, 11 December 2014
Abbreviation for Limited liability company.
In a limited liability company the liability of the members is restricted to a predefined amount.
In the case of a company limited by shares the members' liability is restricted to the amount, if any, unpaid on the shares they hold.
Almost all commercial companies are of this type.
In a company limited by guarantee the liability of the members is restricted to a predefined amount which the members guarantee to contribute (on the event of any winding up of the company).
